Hungary: Erste Group Expands

Businessn.a. ♦ Published: August 9, 2012; 17:07 ♦ (Vindobona)

The Austria major bank purchases the private banking segment of BNP Paribas in Hungary.

Hungary: Erste Group Expands / Picture: © Erste Group / Christian Wind

Despite the challenging market environment, Erste Group expands in Hungary. After the acquisition of BNP Paribas´ private banking segment, Erste Group´s market share reaches 12%. Before, Erste Group had a market share of 9%. In Hungary, BNP Paribas managed assets of € 216m and served 400 clients. The deal has to be approved by the Hungarian financial market authority.